• Attack the smallest debt first
    • Make minimum payments on the others
  • Once you pay off the first one
    • Move to the next smallest debt
  • The process completes when the last debt is paid off

What is the “snow ball” effect?

After you pay off your first debt, you will have extra money (the money that was used to pay for the first debt). This means you now have more money to throw at your second debt. The more you pay off, the more money you have to throw to the next debt. This process will motivate and create momentum.